AIG (fingers snap) '30 billion more please'

[swtrader]

'and another one of those drinks with the little umbrellas, while you're at it'

http://news.yahoo.com/s/ap/20090302/ap_on_bi_ge/aig_rescue

I believe that's 180 billion now, just for AIG

 

[BondTrader50]

The party continues

 

[swtrader]

If we ever become a dictatorship, how will we notice?

 

[Anaconda]

If you know anyone who works at AIG, bitchslap them.

 

[ElCubano]

Quote from BondTrader50:

The party continues

which one is you?? you little sword swallower....

 

[BondTrader50]

Quote from ElCubano:

which one is you?? you little sword swallower....

The one next to you.

 

[ByLoSellHi]

Are there any 'AIG Open' professional gold or tennis events this year?

What a fubar company if there ever was one; an insurance company playing in the derivatives market.

Nice.

 

[swtrader]

Quote from ByLoSellHi:

Are there any 'AIG Open' professional gold or tennis events this year?

What a fubar company if there ever was one; an insurance company playing in the derivatives market.

Nice.

most people just dont get that

an insurance company has NO BUSINESS in unhedged speculation whatsoever

their charter is to actuarially ballance risk, with a margin for safety

not a margin account for speculation

 

[Anaconda]

Quote from swtrader:

most people just dont get that

an insurance company has NO BUSINESS in unhedged speculation whatsoever

their charter is to actuarially ballance risk, with a margin for safety

not a margin account for speculation

They weren't speculating.

They provided risk management via CDS. They were the insurance.

What they had no business doing was providing insurance against obvious mass defaults. But since everyone just cares about lining their pockets, why bother actually running the company like it should be run. The execs & others got paid, and stuck the shareholders and the taxpayers with the bill.

 

[EMini-Player]

LTCM was a drop in the bucket compared to this sh*t fest